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CBSE Questions for Class 12 Commerce Business Studies Business Environment Quiz 4 - MCQExams.com
CBSE
Class 12 Commerce Business Studies
Business Environment
Quiz 4
Gandhian Plan inspired _______.
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Democratic Planning
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Sarvodaya Planning
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Developmental Planning
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Dynamic Planning
Explanation
Gandhian Plan inspired Sarvodaya Planning. Sarvodaya Plan was launched in the year of 1950. Along with agriculture it emphasized on small and cotton industries as well. It was drafted by Jayaprakash Narayan.
The voluntary organisation is achieved by _______.
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Setting up consumers associates or councils
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Organising consumer co-operatives
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Either (A) or (B)
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None of these
Explanation
A voluntary organization is usually formed by a group of individuals who enter into an agreement, usually as volunteers. It is formed to accomplish a special purpose.
The voluntary organization is achieved by:-
a) setting up consumers associates or councils
b) organizing consumer co-operatives.
Hence, option (C) is the correct answer.
The Wildlife (Protection) Act was adopted in ____________.
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1972
0%
1973
0%
1934
0%
1935
Explanation
The Wildlife (Protection) Act was adopted in 1972. Prohibition on Hunting of Specified wild animals, birds and plants, setting up and management of national parks and wildlife sanctuaries, control of Trade and Commerce in wildlife and wildlife products are some objectives of Wildlife Protection Act.
Hence, option (A) is the correct answer.
Match the following:
Plan
Strategy
1.
Second five year plan
a)
Self-sustaining growth
2.
Third five year plan
b)
Rapid Industrialization
3.
Fourth five year plan
c)
Composition of growth
4.
Fifth five year plan
d)
Policy-mix
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1-a, 2-b, 3-c, 4-d
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1-b, 2-a, 3-d, 4-c
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1-d, 2-a, 3-b, 4-c
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1-c, 2-a, 3-b, 4-d
Explanation
Plan
Strategy
Second five year plan
Rapid Industrialization
Third five year plan
Self-sustaining growth
Fourth five year plan
Policy-mix
Fifth five year plan
Composition of growth
Hence, option (B) is the correct answer.
The Second Five Year Plan was based on ________.
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Harrod Domer Model
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Fel'dman Model
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Mahalanobis Model
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Consistency Model
Explanation
The Second Five Year Plan was based on Maahalanobis Model. Time period for the second five-year plan was 1956-1961. It focused on mainly rapid industrialization and development of public sector. The target of 25% Increase in the national income was set through rapid industrialization.
Hence, option (C) is the correct answer.
The period of Tenth Five Year Plan is _________.
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1997-2002
0%
2000-2005
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2002-2007
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2003-2008
Explanation
Tenth Five
-
Year Plan
(2002-07) of
India
! The National Development Council (NDC), headed by Prime Minister Atal Behari Vajpayee, approved unanimously in December 2002 the
Tenth Five
-
year Plan
, envisaging an 8 percent
annual
GDP growth.
External sector liberalisation means _______.
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relaxing restrictions on international flow of goods, services, technology and capital
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relaxing restrictions on internal flow of capital
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relaxing the role of market
0%
all the above
Explanation
External sector liberalization means relaxing restrictions on international flow of goods, services, technology and capital. External sector liberalization has helped bringing down the volatility as well as the instability of our economy. It helps to create a more free and competitive economy.
Industrial licensing is confined to ________.
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5 industries
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8 industries
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10 industries
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15 industries
Privatization means _______________________.
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The transfer of ownership or management of an enterprise from the public sector to the private sector.
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The transfer of ownership of an enterprise from the private sector to the public sector.
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The withdrawal of the state from an industry, partially or fully.
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Both (A) and (C)
Explanation
Privatization describes the process by which a piece of property or business goes from being owned by the government to being privately owned. It generally helps governments save money and increase efficiency, where private companies can move goods quicker and more efficiently. It refers to transfer of ownership or management of an enterprise from the public sector to the private sector.
Hence, option (A) is the correct answer.
Peter F. Drucker used the term 'Privatisation' in his famous book, ________.
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What is Privatisation?
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The Age of Discontinuity
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Quality and Competition
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Global Economy
Explanation
Peter F. Drucker used the term 'Privatization' in his famous book, 'The Age of Discontinuity'. Privatization can be defined as a process of transferring ownership or management of an enterprise from public sector to private sector. It helps to increase the size and dynamism of private sector. It also helps to reduce administrative burdens on the public sector.
Hence, option (B) is the correct answer.
Privatisation is a ____________.
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Global phenomenon
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Internal phenomenon
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New phenomenon
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Traditional phenomenon
Explanation
Privatization is a global trend. Privatization can be defined as a process of transferring of ownership or management of an enterprise from public sector to private sector. It helps to increase the size and dynamism of private sector. It also helps to reduce administrative burdens on the public sector.
Which are the $$6$$Ms of internal environment?
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Media, management, money, monitory policy, mission man
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Monitory policy, man, marketing, resources, money, machinery, miscellaneous factors.
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Man, marketing resources, machinery, management, money, miscellaneous
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None of the above
Explanation
The six M's of internal enviornment are Man, Marketing, Machinery, Management, Money, Miscellaneous, Money.
Privatization is a/an ________.
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Social policy
0%
Economic policy
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Political policy
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International policy
Explanation
Privatization is an international policy. Privatization can be defined as a process of transferring ownership or management of an enterprise from public sector to private sector. It helps to increase the size and dynamism of private sector. It also helps to reduce administrative burdens on the public sector.
Hence, option (D) is the correct answer.
Which of the following restrictions were removed by the liberalization policy?
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Industrial licensing
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Clearance from the MRTP act
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Foreign Exchange restrictions
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All the above
Explanation
Liberalization policy helped to end of license quota and many more restrictions and controls which were put on industries before 1991. Following restrictions were removed by the liberalization policy:
a) Industrial licensing.
b) Clearance from the MRTP act.
c) Foreign Exchange restrictions.
Hence, option (D) is the correct answer.
The word 'Privatisation' is invented by__________.
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Peter F. Drucker
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Taylor
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Mayo
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Vroom
Explanation
The word 'Privatization' is invented by Peter F. Drucker. Privatization can be defined as a process of transferring of ownership or management of an enterprise from public sector to private sector. It helps to increase the size and dynamism of private sector. It also helps to reduce administrative burdens on the public sector.
Consumer attitudes and beliefs about diet, health and nutrition are influenced by which of the following?
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Economic environment
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Cultural environment
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Social environment
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Natural environment
Explanation
An organisation runs its business activities in an environment that is surrounded by various factors internal and external to the environment. One of such factors are cultural influences.
Traditions, beliefs and values are among the main factors influencing preferences of customers.
At present (2018) _______ industries are reserved for the public sector.
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5
0%
2
0%
8
0%
12
Explanation
At present (2018) 2 industries are reserved for the public sector.
Atomic energy and Railways are the only two government monopolies in India. Only public sector undertaking has the authority to run the activities of these industries.
Hence, option (B) is the correct answer.
The following are the ways of privatisation:
Disinvestment Denationalization
Franchising Contracting
Which is correct?
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1, 2 and 4
0%
2 and 4
0%
1 and 2
0%
All the above
Explanation
Privatization is a global trend. Privatization can be defined as a process of transferring ownership or management of an enterprise from the public sector to the private sector. It helps to increase the size and dynamism of the private sector. It also helps to reduce administrative burdens on the public sector.
The following are the ways of privatization:-
1. Disinvestment:-
Disinvestment refers to the use of a concerted economic boycott to pressure a government.
2. Denationalization:-Denationalization, which is a form of privatization, occurs when a national government sells an asset or operation such as a large government-owned firm to private investors.
3. Franchising:- Franchising is the awarding of exclusive rights to perform services within a specific geographic area to a private firm by a governmental unit. The private firm generates revenue by collecting user fees. Cable television is the most common example of this kind of privatization.
4. Contracting:- Contracting out is the production of designated services by a private firm under a contract. Under this scenario, the private sector firm is paid directly by the government for its services.
Hence, option (D) is the correct answer.
One of the important methods of privatisation is ________.
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Disinvestment
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Privatisation of ownership, through the sale of equity
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Either (A) or (B)
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None of these
Explanation
One of the important methods of privatization is either disinvestment or privatization of ownership, through the sale of equity. Privatization is a global trend. Privatization can be defined as a process of transferring of ownership or management of an enterprise from public sector to private sector. It helps to increase the size and dynamism of private sector. It also helps to reduce administrative burdens on the public sector.
Reason(s) for Privatization __________________.
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Revenue for Government
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Increasing the role of Public Sector
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Inefficiency of foreign sector
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Inefficiency, indifference, irresponsibility and corruption
Explanation
Reason for privatization is inefficiency, indifference, irresponsibility and corruption. Privatization is a global trend. Privatization can be defined as a process of transferring ownership or management of an enterprise from public sector to private sector. It helps to increase the size and dynamism of private sector. It also helps to reduce administrative burdens on the public sector.
Hence, option (D) is the correct answer.
The following are the main objectives of the New industrial Policy (1991):
To build on the gains already made
To maintain a sustained growth in productivity
To attain international competitiveness
To maintain gainful employment
Which is/are correct?
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1, 2 and 4
0%
2 and 4
0%
3 and 4
0%
All the above
Explanation
New Industrial Policy was adopted by the Government of India in the year of 1991. It was adopted in order to create a more freer and competitive economy. The following are the main objectives of the New Industrial Policy:-
1. To build on the gains already made
2. To maintain a sustained growth in productivity
3. To attain international competitiveness
4. To maintain gainful employment.
Hence, option (D) is the correct answer.
According to New Industrial Policy, 1991 approval will be given for direct foreign Investment upto _________ of foreign equity in high priority industries.
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51 per cent
0%
25 per cent
0%
32 per cent
0%
41 per cent
Explanation
According to New Industrial Policy, 1991 approval will be given for direct foreign investment up to 51% of foreign equity in high-priority industries. New Industrial Policy was adopted by the Government of India in the year of 1991. It was adopted in order to create a more freer and competitive economy.
Hence, option (A) is the correct answer.
The New Industrial Policy (1991) aims to make changes in ____________________.
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Industrial licensing, Foreign Investment and Public Sector Management
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Foreign Technology Agreements and Monopolies and Restrictive Trade Practices Act
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Foreign Investment and Foreign Technology Agreements
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Both (A) and (B)
Explanation
New Industrial Policy was adopted by the Government of India in the year of 1991. It was adopted in order to create a more freer and competitive economy. The New Industrial Policy aims to make changes in:
a) Industrial licensing, Foreign Investment and Public Sector Management
b) Foreign Technology Agreements and Monopolies and Restrictive Trade Practices Act.
The process of eliminating unnecessary controls and restrictions on the smooth functioning of a business enterprise is known as ________.
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Liberalisation
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Globalisation
0%
Privatisation
0%
None of the above
Explanation
Liberalization has resulted in easy entry of foreign business organization. Liberalization refers to the process of eliminating unnecessary controls and restrictions on the smooth functioning of business enterprise.
New Economic Policy aims at the following objective(s) ______.
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Privatisation
0%
Globalisation
0%
Liberalisation
0%
All the above
Explanation
New Economic Policy was adopted by the Government of India in the year of 1991. It was adopted in order to create a more freer and competitive economy. New Economic Policy aims at the following objectives:
a) Privatization
b) Globalization
c) Liberalization.
Hence, option (D) is the correct answer.
As per New Industrial Policy (1991) automatic permission will be given for foreign technology agreements in high priority industries upto a payment of _____.
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Rs. 50,000
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Rs. 1,00,000
0%
Rs. 50,00,000
0%
Rs. 1,00,00,000
Explanation
As per New Industrial Policy (1991) automatic permission will be given for foreign technology agreements in high priority industries upto a payment of Rs 1,00,00,000. New Industrial Policy was adopted by the Government of India in the year of 1991.
It was adopted in order to create a more freer and competitive economy. The main objective of any industrial policy is to augment the industrial production and thereby enhance the industrial growth.
According to New Industrial Policy, 1991 __________.
Which is incorrect?
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no permission is necessary for hiring of foreign technicians
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a special permission is necessary for hiring of foreign technicians or foreign testing of developed technologies
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automatic permission will be given for domestic sales in high priority industries, upto 5 percent of royalty
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automatic permission will be given, for other then high priority industries, if no foreign exchange is required for any payments
Explanation
According to New Industrial Policy 1991, a special permission is necessary for hiring of foreign technicians or foreign testing of developed technologies- this statement is incorrect. New Industrial Policy was adopted by the Government of India in the year of 1991. It was adopted in order to create a more freer and competitive economy. The main objective of any industrial policy is to augment the industrial production and thereby enhance the industrial growth.
Government undertakings engaged in the production of the following would continue to be kept out of the purview of the MRTP Act, under NIP 1991.
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Defence equipment & specified minerals
0%
Atomic energy and government mints
0%
Railways
0%
All of the above
Explanation
The MRTP Act helped tor remove restrictions and controls which were put on the industrial sector before 1991. The MRTP Act and NIP, 1991 was made applicable to all undertakings including financial institutions. Government undertakings engaged in the production of the following would continue to be kept out of the purview of the MRTP Act, under NIP 1991:
a) Defence equipment and specified minerals
b) Atomic energy and government mints
c) Railways.
Hence, option (D) is the correct answer.
Which is incorrect from the following highlights of the New Small Scale Industrial Policy, 1991?
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Launch of factoring services by SIDBI
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Permission to other units to invest upto 24 percent in the SSI
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Package for handloom and handicraft sector
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Tiny sector investment limit raised to Rs. 7 lakhs
Explanation
Tiny sector investment limit raised to Rs 7 lakhs- this is incorrect from the following highlights of the New Small Scale Industrial Policy, 1991. New Small Scale Industrial Policy, 1991 can be referred as a reform in Indian economy. It caused several changes in the small-scale industrial sector. It helped to create a more free economy.
Hence, option (D) is the correct answer.
According to the amendment of the MRTP Act under NIP, 1991, the requirement for large companies to seek the prior permission of the Union government for the following had been eliminated.
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Expansion and establishment of new undertakings
0%
Merger and amalgamations
0%
Takeover and appointment of Directors
0%
All the above
Explanation
Amendment of the MRTP act helped to remove restrictions and controls which were put on the industrial sector before 1991. According to the amendment of the MRTP Act under NIP, 1991, the requirement for large companies to seek the prior permission of the Union government for the following had been eliminated:-
a) Expansion and establishment of new undertakings
b) Merger and amalgamations
c) Takeover and appointment of Directors.
Hence, option (D) is the correct answer.
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